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MAPNA to Develop Major Oilfields in Khuzestan

MAPNA to Develop Major Oilfields in KhuzestanMAPNA to Develop Major Oilfields in Khuzestan

Iran's top engineering and energy enterprise MAPNA Group signed an agreement on Monday with the National Iranian South Oil Company on developing Paranj and Parsi oilfields in Khuzestan Province.

The agreement was signed by NISOC CEO Bijan Alipour and MAPNA's director for oil and gas, Mojtaba Gharavi, Shana reported on Monday.

According to Alipour, MAPNA has carried out comprehensive studies on the two fields and the agreement envisages boosting output from the fields by 30,000-40,000 barrels per day.

"Both fields are among hydrocarbon reservoirs that require gas injection for enhanced oil recovery," he said.

Paranj's gas injection station with a capacity of 45 million cubic feet per day of gas became operational in late April. Alipour noted that the deal is in line with policies to boost domestic players' footprint in the key industry and create jobs in the region.

Parsi, located 130 kilometers northeast of Ahvaz, holds more than 10 billion barrels of crude oil in place. It currently produces 58,000 bpd of crude. Paranj, nearby Parsi, holds 1.6 billion barrels of in-place crude. The field's output currently stands at around 18,000 bpd.

MAPNA is involved in a range of projects, including oil and gas field development, onshore and offshore drilling services, construction of downstream processing units, auxiliary facilities, utility and storage tanks, as well as the design and manufacture of equipment such as turbo-compressors for pipelines, refineries and processing units.

The company has created over 15,000 direct and 150,000 indirect jobs.

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